Higgins Lakefront Property Values Dropping

Higgins lakefront values have dropped, but not nearly as much as real estate in general. Higgins Lakefront values will tend to be more stable because there are fewer parcels available than non lakefront properties. Think of it this way, the law of supply and demand will usually keep property values stable because there are fewer parcels to market and sell.

Property assessments are remaining stable for lakefront according to Gerrish Township. I have come to another conclusion however. Using the power of the market place, 60% of Higgins Lakefront parcels that SOLD during 2008, SOLD below the SEV that the assessor said they are worth. With this fact in mind, property owners should consider protesting their 2009 property assessment. Specifically speaking, vacant lakefront property that SOLD in the 3rd quarter of 2008 SOLD for much less than assessments are valued at.